Main Limitations of FCE4 & Differences with FCP

What are the main limitations of FCE4 and what are the main differences it has with FCP?
One thing that I don't like is that iMovie '08 can import and use 1920 x 1080 clips without extra rendering, but FCE4 (a clearly superior program) can't! How did this get past Apple? I know that FCP can take it (but I don't have $1200!).
I have a Canon HF10 and I don't like the fact that I am basically forced to work in 1440 x 1080 when I have a 1920 x 1080 capable camera.
Is there an easy way to record in 1920 x 1080 and then still be able to use it in FCE4? Maybe by way of iMovie '08? How much time would this add to the process (as it is already pretty deplorable, using AVCHD and all)...
Any thoughts, ideas?
Thanks all!

I don't know whether you wanted to know the general differences, but your first sentence (originally) seemed to suggest it ?
The 2 apps work the same and FCE has exactly the same effects and transitions except for the Smoothcam filter and the 3 way color corrector (FCE has a 2 way one).
FCE can only edit DV, HDV and AVCHD.
There are numerous other (minor) differences but they are unlikely to be of any importance to anyone other than a studio of top pro editors using specialised cameras and techniques.
Message was edited by: Ian

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